Lending rate of 4.8% to be offered for social housing
HCMC – The prime minister has issued Decision 486 authorizing the Vietnam Bank for Social Policies (VBSP) to offer a preferential lending rate of 4.8% per year to loans for buying and lease purchase of social homes and building or repairing houses. The bank is requested to take full responsibility
Xuyen Tam Canal upgrade project to be completed in 2028
HCMC – The city administration is planning to start work on the long-stalled Xuyen Tam Canal upgrade project in August 2024, with completion scheduled for April 2028. This year, the authorities will carry out a range of relevant processes that could pave the way for the project’s implementation
HCMC wants to speed up public investment disbursement
HCMC – Nguyen Thi Le, chairwoman of the HCMC People’s Council, has urged the relevant agencies to expedite the disbursement of public investment capital as the city saw a lower-than-expected disbursement rate in the year to April. Only VND147 billion in public investment capital for the city’s
Hanoi maps out key infrastructure projects
HCMC – The Hanoi City administration is seeking to finish work on two beltway projects, complete its centripetal expressway system and build an express rail link between the city and the north-central province of Nghe An. By the end of 2027, Hanoi will focus on the Beltway No. 4 project in the
Draft law seeks SBV’s early intervention in bank runs
HCMC – An early intervention by the State Bank of Vietnam, or SBV, should be needed when a bank run occurs, according to a draft of the amended Law on Credit Institutions. Nguyen Thi Hong, governor of the SBV, or the central bank, presented the draft at the National Assembly Standing Committee
PM approves Binh Phuoc-Dong Nai road project
HCMC – Prime Minister Pham Minh Chinh has approved a proposal to construct a road between two neighboring southern provinces — Binh Phuoc and Dong Nai. The prime minister tasked the Ministry of Transport and relevant agencies to begin work on the project’s planning and execution stages to meet the
Four broken undersea cable lines back to normal this month
HCMC – Four broken undersea Internet cable lines will return to normal operation by the end of this month, while the fifth line is expected to be fixed next month. Two of the four cable lines — IA and SMW3 — were fully fixed on May 3 and are now functioning normally. Two other lines, […]
Cash-strapped firms sell off assets to stay afloat
HCMC – Cash flow shortages have forced many large companies to sell their assets at half their actual value to stay afloat in tough economic times, heard a meeting between the Ministry of Planning and Investment and the National Assembly Standing Committee on May 9. Although the money market
S.Korea remains Vietnam’s largest tourism source market
HCMC – South Korea continued to be the biggest source market for Vietnam’s tourism sector in April, with over 259,300 South Korean arrivals, according to the Vietnam National Administration of Tourism. South Korean tourists made up over a quarter of all international visitors to the country during
NA Economic Committee wants Gov’t to clarify EVN’s losses
HCMC – The National Assembly Economic Committee has asked the Government to clarify why Vietnam Electricity Group (EVN) has made losses of more than VND26.4 trillion. The request was mentioned in a report on Vietnam’s socio-economic performance submitted to the National Assembly’s Standing
SBV to inspect share transfers among credit institutions
HCMC – The State Bank of Vietnam (SBV), the central bank, will focus on inspecting share transfers among credit institutions this year to prevent cross ownership in the banking sector. The above content, which has been approved by SBV Governor Nguyen Thi Hong, will be submitted to the National
AstraZeneca provides US$50 million for reforestation in Vietnam
HCMC – Global drug firm AstraZeneca has agreed to provide Vietnam with US$50 million, or some VND1.2 trillion, to aid the nation in reforestation and to address climate change. This is part of the British-Swedish pharmaceutical and biotechnology company’s AZ Forest, a global initiative to plant
